Unassociated Document
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) October 9, 2008

Commission
  
Registrant; State of Incorporation;
  
I.R.S. Employer
File Number
  
Address; and Telephone Number
  
Identification No.
         
333-21011
  
FIRSTENERGY CORP.
  
34-1843785
   
(An Ohio Corporation)
    
   
76 South Main Street
    
   
Akron, OH  44308
    
   
Telephone (800)736-3402
    
         
333-145140-01
  
FIRSTENERGY SOLUTIONS CORP.
  
31-1560186
   
(An Ohio Corporation)
    
   
c/o FirstEnergy Corp.
    
   
76 South Main Street
    
   
Akron, OH 44308
    
   
Telephone (800)736-3402
    
         
1-2578
  
OHIO EDISON COMPANY
  
34-0437786
   
(An Ohio Corporation)
    
   
c/o FirstEnergy Corp.
    
   
76 South Main Street
    
   
Akron, OH  44308
    
   
Telephone (800)736-3402
    
         
1-2323
  
THE CLEVELAND ELECTRIC ILLUMINATING COMPANY
  
34-0150020
   
(An Ohio Corporation)
    
   
c/o FirstEnergy Corp.
    
   
76 South Main Street
    
   
Akron, OH  44308
    
   
Telephone (800)736-3402
    
         
1-3583
  
THE TOLEDO EDISON COMPANY
  
34-4375005
   
(An Ohio Corporation)
    
   
c/o FirstEnergy Corp.
    
   
76 South Main Street
    
   
Akron, OH  44308
    
   
Telephone (800)736-3402
    
         
1-3141
  
JERSEY CENTRAL POWER & LIGHT COMPANY
  
21-0485010
   
(A New Jersey Corporation)
    
   
c/o FirstEnergy Corp.
    
   
76 South Main Street
    
   
Akron, OH  44308
    
   
Telephone (800)736-3402
    
         
1-446
  
METROPOLITAN EDISON COMPANY
  
23-0870160
   
(A Pennsylvania Corporation)
    
   
c/o FirstEnergy Corp.
    
   
76 South Main Street
    
   
Akron, OH  44308
    
   
Telephone (800)736-3402
    
         
1-3522
  
PENNSYLVANIA ELECTRIC COMPANY
  
25-0718085
   
(A Pennsylvania Corporation)
    
   
c/o FirstEnergy Corp.
    
   
76 South Main Street
    
   
Akron, OH  44308
    
   
Telephone (800)736-3402
 
    
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 8.01 Other Events.

On October 9, 2008, FirstEnergy Corp. will issue a Letter to the Investment Community regarding the company’s current liquidity position and the status of its ongoing financing activities.  The Letter to the Investment Community is attached as Exhibit 99.1 hereto and incorporated by reference.


Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.
Description
   
99.1
Letter to the Investment Community, dated October 9, 2008
 






Forward-Looking Statements: This Form 8-K includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management’s intents, beliefs and current expectations.  These statements typically contain, but are not limited to, the terms “anticipate,” “potential,” “expect,” “believe,” “estimate” and similar words.  Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  Actual results may differ materially due to the speed and nature of increased competition in the electric utility industry and legislative and regulatory changes affecting how generation rates will be determined following the expiration of existing rate plans in Ohio and Pennsylvania, the impact of the PUCO’s rulemaking process on the Ohio Companies’ Electric Security Plan and Market Rate Offer filings, economic or weather conditions affecting future sales and margins, changes in markets for energy services, changing energy and commodity market prices and availability, replacement power costs being higher than anticipated or inadequately hedged, the continued ability of FirstEnergy’s regulated utilities to collect transition and other charges or to recover increased transmission costs, maintenance costs being higher than anticipated, other legislative and regulatory changes including revised environmental requirements and possible greenhouse gas emissions regulation, the impact of the U.S. Court of Appeals’ July 11, 2008 decision to vacate the CAIR rules and the scope of any laws, rules or regulations that may ultimately take their place, the uncertainty of the timing and amounts of the capital expenditures needed to, among other things, implement the Air Quality Compliance Plan (including that such amounts could be higher than anticipated) or levels of emission reductions related to the Consent Decree resolving the New Source Review litigation or other potential regulatory initiatives, adverse regulatory or legal decisions and outcomes (including, but not limited to, the revocation of necessary licenses or operating permits and oversight by the Nuclear Regulatory Commission including, but not limited to, the Demand for Information issued to FENOC on May 14, 2007) as disclosed in the registrants’ SEC filings, the timing and outcome of various proceedings before the PUCO (including, but not limited to, the Distribution Rate Cases and the generation supply plan filing for the Ohio Companies and the successful resolution of the issues remanded to the PUCO by the Supreme Court of Ohio regarding the Rate Stabilization Plan and the Rate Certainty Plan, including the recovery of deferred fuel costs) and Met-Ed’s and Penelec’s transmission service charge filings with the PPUC (as well as the resolution of the Petitions for Review filed with the Commonwealth Court of Pennsylvania with respect to the transition rate plan for Met-Ed and Penelec), the continuing availability of generating units and their ability to continue to operate at or near full capacity, the ability to comply with applicable state and federal reliability standards, the ability to accomplish or realize anticipated benefits from strategic goals (including employee workforce initiatives), the ability to improve electric commodity margins and to experience growth in the distribution business, changing market conditions that could affect the value of assets held in the registrants’ nuclear decommissioning trust funds, pension funds and other trust funds, the ability to access the public securities and other capital and credit markets in accordance with FirstEnergy’s financing plan and the cost of such capital, changes in general economic conditions affecting the registrants, the state of the capital and credit markets affecting the registrants, and the risks and other factors discussed from time to time in the registrants’ SEC filings, and other similar factors.  The foregoing review of factors should not be construed as exhaustive.  New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on the registrants’ business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. Dividends declared from time to time on FirstEnergy’s common stock during any annual period depend on circumstances considered by FirstEnergy’s Board of Directors at the time of the actual declarations.  The registrants expressly disclaim any current intention to update any forward-looking statements contained herein as a result of new information, future events, or otherwise.
 
1
 
SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, each Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.



October 9, 2008



 
FIRSTENERGY CORP.
 
Registrant
   
 
FIRSTENERGY SOLUTIONS CORP.
 
Registrant
   
 
OHIO EDISON COMPANY
 
Registrant
   
 
THE CLEVELAND ELECTRIC
 
ILLUMINATING COMPANY
 
Registrant
   
 
THE TOLEDO EDISON COMPANY
 
Registrant
   
 
METROPOLITAN EDISON COMPANY
 
Registrant
   
 
PENNSYLVANIA ELECTRIC COMPANY
 
Registrant



 
/s/  Harvey L. Wagner
 
Harvey L. Wagner
 
Vice President, Controller
 
and Chief Accounting Officer



 
JERSEY CENTRAL POWER & LIGHT COMPANY
 
Registrant
   
   
   
 
/s/  Paulette R. Chatman
 
Paulette R. Chatman
 
Controller
 
(Principal Accounting Officer)